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How do buyers make sure sellers are not scamming them?
by hiccuphippo 9y ago
How do buyers make sure sellers are not scamming them?
- SamPatt 9y agoThere is a system for dispute resolution. Both parties agree to use a third party, called a moderator, who will settle the dispute if either party is dissatisfied. The cryptocurrency isn't sent directly to the seller, but it goes into a 2-of-3 multisig account. That requires any two of the parties to release the funds. Most of the time the buyer and seller are happy and release the funds when the transaction is completed, but if either party is unhappy then they open a dispute and the moderator gets involved. He / she then joins with the winning party to move the funds. Moderators are very important in the system and it's important that people choose trustworthy ones, so my company OB1 offers a service where we vet moderators so people know who to choose. https://ob1.io/verified-moderators.html https://ob1.io/verified-moderators.html
- lucasverra 9y agoyou should check on Kleros.io for a real focused startup on that subject